ACCOUNTS - Final Accounts

ACCOUNTS - Final Accounts

DURBAN INVESTMENTS LIMITED - Company Information

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Caseware UK (AP4) 2019.0.227 2019.0.227 2019-09-302019-09-30false2018-10-01trueInvestment companyfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03508533 2018-10-01 2019-09-30 03508533 2017-10-01 2018-09-30 03508533 2019-09-30 03508533 2018-09-30 03508533 2017-10-01 03508533 c:Director1 2018-10-01 2019-09-30 03508533 d:CurrentFinancialInstruments 2019-09-30 03508533 d:CurrentFinancialInstruments 2018-09-30 03508533 d:ShareCapital 2019-09-30 03508533 d:ShareCapital 2018-09-30 03508533 d:ShareCapital 2017-10-01 03508533 d:RetainedEarningsAccumulatedLosses 2018-10-01 2019-09-30 03508533 d:RetainedEarningsAccumulatedLosses 2019-09-30 03508533 d:RetainedEarningsAccumulatedLosses 2017-10-01 2018-09-30 03508533 d:RetainedEarningsAccumulatedLosses 2018-09-30 03508533 d:RetainedEarningsAccumulatedLosses 2017-10-01 03508533 c:FRS102 2018-10-01 2019-09-30 03508533 c:AuditExempt-NoAccountantsReport 2018-10-01 2019-09-30 03508533 c:FullAccounts 2018-10-01 2019-09-30 03508533 c:PrivateLimitedCompanyLtd 2018-10-01 2019-09-30 03508533 6 2018-10-01 2019-09-30 iso4217:GBP

Registered number: 03508533










DURBAN INVESTMENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2019
 
DURBAN INVESTMENTS LIMITED
REGISTERED NUMBER: 03508533

BALANCE SHEET
AS AT 30 SEPTEMBER 2019

2019
2018
Note
£
£

  

Fixed assets
  

Investments
 4 
1,800,000
2,800,000

  
1,800,000
2,800,000

  

Creditors: amounts falling due within one year
 5 
(983,198)
(983,198)

Net current liabilities
  
 
 
(983,198)
 
 
(983,198)

Total assets less current liabilities
  
816,802
1,816,802

  

  

  

Net assets
  
816,802
1,816,802


Capital and reserves
  

Called up share capital 
  
700,000
700,000

Profit and loss account
  
116,802
1,116,802

  
816,802
1,816,802


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




T. C. Gibson
Director

Date: 18 March 2020

Page 1
 
DURBAN INVESTMENTS LIMITED
REGISTERED NUMBER: 03508533
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2019

The notes on pages 3 to 4 form part of these financial statements.


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2019


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 October 2018
700,000
1,116,802
1,816,802



Profit for the year

-
200,000
200,000

Dividends: Equity capital
-
(1,200,000)
(1,200,000)


At 30 September 2019
700,000
116,802
816,802


The notes on pages 3 to 4 form part of these financial statements.


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2018


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 October 2017
700,000
1,978,753
2,678,753



Profit for the year

-
638,049
638,049

Dividends: Equity capital
-
(1,500,000)
(1,500,000)


At 30 September 2018
700,000
1,116,802
1,816,802


The notes on pages 3 to 4 form part of these financial statements.

Page 2
 
DURBAN INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019

1.


General information

Durban Investments Limited is a company registered in England and Wales under registration number 03508533. The  registered office of the Company is 5 Fleet Place, London, EC4M 7RD. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

  
2.2

Revenue

Revenue is represented by group dividends receivable.

 
2.3

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

  
2.5

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Loans from related parties payable within one year are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid.

  
2.6

Creditors

Short term creditors are measured at the transaction price.

  
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2018 - 3).

Page 3
 
DURBAN INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019

4.


Fixed asset investments





Investments in subsidiary company

£



Cost or valuation


At 1 October 2018
2,800,000



At 30 September 2019

2,800,000



Impairment


Charge for the period
1,000,000



At 30 September 2019

1,000,000



Net book value



At 30 September 2019
1,800,000



At 30 September 2018
2,800,000


5.


Creditors: Amounts falling due within one year

2019
2018
£
£

Amount due to group undertaking
983,198
983,198

983,198
983,198


 
Page 4